Picton Mahoney Asset Management Has $14.50 Million Stock Position in Intercontinental Exchange Inc. $ICE

Picton Mahoney Asset Management boosted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 45.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 79,010 shares of the financial services provider’s stock after acquiring an additional 24,766 shares during the quarter. Picton Mahoney Asset Management’s holdings in Intercontinental Exchange were worth $14,499,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares during the last quarter. Cetera Investment Advisers grew its stake in Intercontinental Exchange by 8.8% in the 1st quarter. Cetera Investment Advisers now owns 76,544 shares of the financial services provider’s stock valued at $13,204,000 after buying an additional 6,164 shares during the last quarter. Assetmark Inc. raised its holdings in Intercontinental Exchange by 34.3% in the 1st quarter. Assetmark Inc. now owns 23,849 shares of the financial services provider’s stock valued at $4,114,000 after acquiring an additional 6,087 shares during the period. Empirical Finance LLC lifted its position in Intercontinental Exchange by 4.3% during the first quarter. Empirical Finance LLC now owns 8,770 shares of the financial services provider’s stock worth $1,513,000 after acquiring an additional 363 shares during the last quarter. Finally, Alteri Wealth LLC grew its position in shares of Intercontinental Exchange by 15.8% in the first quarter. Alteri Wealth LLC now owns 3,920 shares of the financial services provider’s stock valued at $676,000 after purchasing an additional 535 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Barclays set a $183.00 target price on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, October 31st. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research note on Monday, October 13th. TD Cowen decreased their target price on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $194.70.

Intercontinental Exchange Stock Up 1.9%

ICE stock opened at $154.57 on Monday. The stock has a market capitalization of $88.13 billion, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $158.04 and a 200-day moving average price of $171.99. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the business earned $1.55 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Activity

In related news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the transaction, the senior vice president directly owned 25,796 shares of the company’s stock, valued at $4,530,293.52. This trade represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 939 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the sale, the chief operating officer directly owned 16,624 shares of the company’s stock, valued at approximately $2,859,992.96. The trade was a 5.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 175,258 shares of company stock valued at $27,146,307. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.